– The SEC is facing deadlines to decide on seven new Bitcoin spot exchange-traded fund (ETF) applications, with the latest deadline being Sept. 4.
– Bitwise will learn if its ETF will win SEC approval on Sept. 1, while BlackRock, VanEck, Fidelity, Invesco, and Wisdomtree will await the SEC’s decision by Sept. 2.
– Valkyrie will hear back from the SEC on Sept. 4.
– The recent ruling in favor of Grayscale’s application to convert its Grayscale Bitcoin Trust into a spot Bitcoin ETF increases the odds of success for other applicants.
– The SEC has 90 days to file an appeal or apply for an En banc review following the Grayscale decision.
– The SEC could concede defeat and approve Grayscale’s conversion or revoke the listing of Bitcoin futures ETFs entirely.
– The odds of the SEC revoking Bitcoin futures ETFs are considered highly unlikely due to the SEC’s reported openness to Ethereum futures ETFs.
